Moody's places on review four Ukrainian banks for downgrade
2012-04-06 16:41:13
Moody's Investors Service on April 5 placed on review for downgrade four Ukrainian banks, UKRINFORM reported citing the agency.
The list includes Ukraine's OTP Bank, Privatbank, Raiffeisen Bank Aval, Ukreximbank.
"OTP Bank Ukraine's Ba2 local currency long-term deposit rating and D- BFSR placed on review for downgrade; B3 foreign currency deposit rating, Aa1.ua national scale long-term deposit rating and Not Prime short-term deposit ratings unaffected.
Privatbank's Ba3 local currency long-term deposit rating, B1 foreign currency long-term senior unsecured debt rating, B1 foreign currency long-term subordinated debt rating, D- BFSR and Aa1.ua national scale long-term deposit rating placed on review for downgrade; B3 foreign currency deposit rating and Not Prime short-term deposit ratings unaffected.
Raiffeisen Bank Aval's D- BFSR placed on review for downgrade. The current review for downgrade of its Ba1 long-term local-currency deposit and senior unsecured debt ratings, initiated on 21 February 2012, will also be extended to reflect today's actions. B3 foreign currency deposit rating, Aa1.ua national scale long-term deposit rating and Not Prime short-term deposit ratings unaffected.
Ukreximbank's Ba3 local currency long-term deposit and senior unsecured debt ratings, B1 foreign currency long-term senior unsecured debt rating, B1 foreign currency long-term subordinated debt rating and D- BFSR placed on review for downgrade. B3 foreign currency deposit rating and Not Prime short-term deposit ratings unaffected," Moody's said in a statement.
The agency also placed on review for downgrade financial institutions of Jordan, Lebanon and Pakistan, whose standalone credit assessments are currently positioned above their domicile countries' sovereign debt ratings.
"Today's announcements reflect Moody's revised assessment of the linkage between the credit profiles of sovereigns and financial institutions globally, which is further discussed in the rating implementation guidance "How Sovereign Credit Quality May Affect Other Ratings" published on 13 February, 2012," Moody's said.